IGZO is based on a compound semi-conductor that produces approximately twice the resolution of current LCDs.

Sharp described that IGZO produces a more natural picture with greater presence while delivering more visual information than ever before.

Kozo Takahashi, executive vice president of Sharp Corporation, remarked during Monday's press conference that IGZO is the "key to future of next-generation organic LED (OLED) displays."

But IGZO isn't being reserved just for TVs as executives highlighted new mobile devices sporting IGZO screens that were already unveiled in Japan last year.

Takahashi asserted that Sharp "will be first company to mass produce IGZO," but he acknowledged that "IGZO wasn't made by Sharp alone." He cited Corning -- the maker of Gorilla Glass -- in particular as a major partner to help produce these IGZO displays for TVs, smartphones and tablets.